Argentina Government bets on debt
Source: Buenos Aires Herald
The government is giving off more signs that debt-fuelled investment is its main bet to revive Argentina’s stagnant economy, both through state spending in public works and with private projects.
Cabinet Chief Marcos Peña and Finance Minister Alfonso Prat-Gay held a press conference yesterday to announce that Axion Energy will find some US$1.5 billion to expand its oil refinery facilities in Campana, Buenos Aires province.
Part of that money will come from a series of loans, both from private banks and international credit organisms.
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